The 2 ¹/₂ hour presentation came a day after a scathing front-page article in The New York Times attacked Ackman’s efforts in lobbying for an investigation of Herbalife by regulators. He spent about 10 minutes at the start of the conference call/webcast rebutting it.

The article, he said, “is not my favorite,” but in his characteristic positive spin, added “No regulator in the world is not aware of the issues around Herbalife” as a result.

China is Herbalife’s fastest growing market and became controversial earlier this year when Chinese news reports of pyramid activity at other multilevel marketing companies caused Herbalife’s shares to plummet. They fell 1.16 percent after Ackman’s findings were revealed Tuesday, to close at $65.39.

Ackman’s China presentation showed Herbalife’s compensation plan in China mirrors that of the US, but consulting fees are used to get around its more stringent pyramid laws prohibiting payment for recruitment.

“Hourly consulting pay is spot on in violation of the law because it’s keyed to the number of people and sales of people below you,” said Ackman. Herbalife is in violation of both civil and criminal laws in China, his attorney David Klafter alleged.

Ackman also showed internal Herbalife documents he has received from one of several company employees who’ve gained whistleblower status and are cooperating with US regulators. They reveal that Herbalife uses the same type of recruiting awards in China as in the US — with an additional China bonus. US financial statements call them “sales employee expenses” for China.

“They’re trying to hide the fact that the China royalty expenses move in lock step with the rest of the world,” Ackman said.

The Los Angeles-based company said it follows local laws in China.

Ackman fielded almost 100 questions during the presentation and promised more evidence: a documentary on victims, another webcast on nutrition clubs and one on Herbalife’s Venezuela operations.